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SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - SSC CGL MCQ


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20 Questions MCQ Test SSC CGL (Tier - 1) - Previous Year Papers (Topic Wise) - SSC CGL Previous Year Questions: Simple & Compound Interest - 1

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 for SSC CGL 2024 is part of SSC CGL (Tier - 1) - Previous Year Papers (Topic Wise) preparation. The SSC CGL Previous Year Questions: Simple & Compound Interest - 1 questions and answers have been prepared according to the SSC CGL exam syllabus.The SSC CGL Previous Year Questions: Simple & Compound Interest - 1 MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 below.
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SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 1

A sum of  ₹ 1200 is invested at compound interest (compounded half yearly). If the rate of interest is 10% per annum, then what will be the amount after 18 months?    (SSC MTS 2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 1

P = 1200
Time = 18 month for half yearly time becomes twice
= 18 × 2 = 36 month = 3 year
Rate = 10% = 5% = for half yearly
Let the principal = 125

Total amount → 125 + 6.25 + 6.25 + 6.25 + 0.3125 + 0.3125 + 0.3125 + 0.015625
⇒ 144.703125 unit 125 unit → 1200 (given)

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 2

A sum of ₹ 10000 is invested in three schemes of simple interest. The annual interest rates are respectively, 4%, 6% and 10%. ₹ 4000 were invested in the first scheme. If the total interest earned after five years is ₹ 2800, then how much money was invested in the third scheme?    (SSC MTS 2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 2

Let the amount invested in third scheme is x then amount invested in second scheme is 1000 – 4000 – x = (6000 – x)

Hence, money invested in third scheme = ₹ 1000.

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 3

The difference between compound interest and simple interest on ₹ x at 15% per annum for 2 years is ₹ 9. What is the value of x? (SSC CGL-2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 3

For 2 years,

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 4

The difference between the compound interest and simple interest on ₹ x at 8% per annum for 2 years is ₹ 19.20. What is the value of x?    (SSC CGL-2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 4

We know that, for time 2 years,
Difference between C.I. & S.I. 

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 5

A borrowed a sum of  ₹ 3,000 from his friend B on 31 December 2007 on the condition that he would return the same after one year with simple interest at 15% per annum. However, A gets into a position of returning the sum on 31 August 2008. How much amount had A to return to B?    (SSC CHSL-2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 5

Rate of interest (r) = 15%
time (t) = 8 months = 

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 6

A sum of ₹ 12,800 is invested partly at 15% per annum and the remaining at 12% per annum simple interest. If the total interest at the end of 3 years is ₹ 5,085, then how much money was invested at 15% per annum?    (SSC Sub. Ins. 2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 6

Let the money invested at 15% p.a. is x.
then amount invested at 12% p.a. is (12800 – x)
ATQ.


SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 7

A sum of ₹ 18,000 is invested for 16 months at 8% per annum compounded half-yearly. What is the percentage gain at the end of 16 months, to the nearest whole number?    (SSC Sub. Ins. 2018)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 7

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 8

An amount was lent for two years at the rate of 20% per annum compounding annually. Had the compounding been done half yearly, the interest would have increased by 241. What was the amount (in ₹) lent?    (SSC Sub. Ins. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 8

Let sum ₹ = x C.I.
when compounded half yearly

∴ x = 10000
∴ sum = ₹ 10000

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 9

What is the compound interest (in ₹) on ₹ 12500 at the rate of 12% per annum compounded yearly for 2 years?    (SSC Sub. Ins. 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 9

Here,
P = 12500, R = 12%, T = 2 years, C.I. = ?

= 15680 – 12500 = 3180
∴ Compound interest = ₹ 3180

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 10

The simple interest on sum for 5 years is 3/5th of the sum. The rate of interest per annum is:    (SSC MTS 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 10

Here
Let P = x

T = 5
R = ?
According to question,

∴ The rate of interest per annum 12%

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 11

A sum of ₹ 400 becomes ₹ 448 at simple interest in 2 years. In how many years will the sum of ₹ 550 amounts to ₹ 682 at the same rate?    (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 11

Here,
P = 400
A = 448
T = 2 years
R = ?
∵ A = P + S. I
∴ S. I = A – P
= 448 – 400 = 48

Now P = 550
A = 682
R = 6%
T = ?
∵ S - I = 682 – 550 = 132

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 12

The difference between the compound interest compounding half yearly for 1 year and the simple interest for 1 year on a certain sum of money lent out at 8% per annum is ₹ 64. What is the sum (in ₹)?  (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 12

According to question,

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 13

A certain sum of money triples itself in 5 years at simple interest. In how many years it will be five times?    (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 13

Here,
P = x, T = 5, A = 3x
∴ S.I = 3x – x = 2x

Now, P = x
A = 5x
∴ S.I.  = 5x – x = 4x
T = ?

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 14

A person lent certain sum of money at 5% per annum simple interest and in 15 years the interest amounted to ₹ 250 less than the sum lent. What was the sum lent (in ₹)?    (SSC CGL 2017)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 14

Let principal = x
Then,
∴ Simple Interest = x – 250
According to question,

100 x – 25000 = 75x
25x = 25000

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 15

A sum of ₹ x was put at simple interest at a certain rate for 2 years. Had it been put at 3% higher rate, it would have fetched ₹ 300 more. The value of 4x  is    (SSC Sub. Ins. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 15

Let the sum be ₹ x & original rate R%, then,

6x = 300 × 100 ⇒ x = 5000
The value of 4x = 4 ×5000 = 20000

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 16

A sum of money placed at compound interest double itself at 2 years. The year it will take to amount 4 times itself is    (SSC Sub. Ins. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 16

Let the sum be ₹ 1 which becomes ₹ 2 after 2 years

Let the sum of ₹ 1 becomes ₹ 4 after 'n' years

n = 4 years

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 17

Alipta got some amount of money from her father. In how many years will the ratio of the money and the interest obtained from it be 10 : 3 at 6% simple interest per annum?    (SSC CGL 2nd Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 17

Let principal = 10x
Interest = 3x

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 18

What would be the compound interest of ₹ 25000 for 2 yrs. at 5% per annum    (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 18

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 19

The simple interest on a certain sum of money at the rate of 5% per annum for 8 years is ₹ 840. Rate of interest for which the same amount of interest can be received on the same sum after 5 years is    (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 19

When P = P, R = 5%, T = 8yr, then SI = 840

P = 2100
Case II: When P = 2100, R = ?, T = 5, SI = 840

or R = 8%

SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 20

A certain sum will amount to ₹ 12,100 in 2 years at 10% per annum of compound interest, interest being compounded annually. The sum is:    (SSC CGL 1st Sit. 2016)

Detailed Solution for SSC CGL Previous Year Questions: Simple & Compound Interest - 1 - Question 20

Final rate of interest for two pens

Let principal be P.

P = 100 × 100 = ₹ 10000

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